Over the years, we have seen how the dynamics of sales have changed.
Ever since technological advancements came into play and the internet made information available for everyone, salespeople are no longer in charge of the buying process - customers are!
The same applies in the world of business-to-business selling or B2B sales. Gone are the days when B2B customers approached suppliers early in the buying process because they needed information.
Today, business buyers prefer to conduct research on their own and gather information before approaching a vendor. In fact, 57% of B2B customers already have their minds set on what to buy before they even speak with a supplier.
On top of this, the COVID-19 outbreak altered consumer behavior, which accelerated changes in the B2B sales landscape.
Both B2B sellers and buyers now prefer:
But, do these changes imply that closing B2B sales is now more difficult and complicated? Not necessarily.
It only means that you need to keep up with the changes in consumer behavior trends and reinvent the way you reach out to prospects and the way you do business with your B2B customers. That way, you can create the kind of experience they want to win them over.
How exactly can you do this? This article will tell you!
We’ll be giving you five insider tips you can use to start closing more B2B sales this 2021. Let’s begin!
B2B customers nowadays want the same buying experience B2C customers get online.
How can you provide the kind of experience your target audience expects from you so can start closing more sales? Here’s how:
Consumer attitudes, behaviors, and purchasing habits are changing during these difficult times. And, many of these changes are expected to remain post-COVID.
As a response, study your B2B customers or prospects to discover who they are, what their needs are, what’s important for them, and gain insights on the current challenges they face. By doing so, you can create value-driven solutions that meet their specific needs.
Value-driven solutions is a customer-centric approach of delivering value to your customers by continuously learning who they are and what’s important to them.
Through this approach, you can meet customer expectations and provide them the frictionless customer experience they want.
You can collect the information you need through the following:
Once you have all the information, you may now meet their new needs using these steps:
After meeting their needs, it’s best that you continue to delight them through:
Customer learning and discovery plays a crucial role in helping you close more sales this 2021. It helps you create a personalized experience for your B2B customers and anticipate their needs before they even occur.
Now that you know who your customers are and what they value, it’s time to find more of them so can start closing more B2B sales!
Looking for prospects who are interested in what you have to offer can be challenging, especially with the new normal. However, thanks to technology, there are several ways you can discover and identify quality leads.
Your web analytics lets you see what companies visit, how many and which pages they visit, and how long they stay. In other words, it measures the behavior and activities of your visitors whenever they’re on your site.
You can use the data from your analytics to find the right contact person, create consumer profile, and develop a personalized business pitch based on their interests and pain points.
In-person events might currently be on hold, but you can always host a webinar or volunteer to speak at a digital forum or seminar. Doing this allows you to showcase your expertise in your field and build trust with potential customers in your industry.
Client referrals are the best way to find quality leads. When your customers are happy about your products or services, they’re more likely to tell others about you. So, don’t be shy to ask your customers if they know other business buyers who might be interested in your products or services or if they could recommend you to a potential customer.
Account-based marketing is the process of identifying your prospects in advance, and then performing a comprehensive, omni-channel approach to reach out to them.
What’s great about this approach is that it allows you to identify who you want to work with. You can create a personalized and more compelling messaging for a targeted list, which you’ll likely get a response from, instead of sending out email blasts to a vast number of potential customers.
Closing more deals means getting more quality leads. Try out these different ways, especially the ABM approach, to find the clients you want to work with.
According to SiriusDecisions, 91% of companies that use account-based marketing increase their average deal size, of which 25% experience an increase of more than 50%. This tells us that account-based marketing delivers ROI.
For this strategy to be effective, you must first align your sales and marketing team. Companies whose sales and marketing teams are tightly aligned increase their chances of turning leads into clients by 67% and boost their sales win rates by 38%.
You need to work on bringing the two teams together so they can collaborate and agree on who the key people they want to reach out to, what the company pain points are, and how to present a personalized solution in a compelling way.
Now, how does this alignment thing work? Here’s a checklist:
Usually, the sales and marketing team work separately. They have different goals and use different strategies.
The marketing team works to attract leads through different ways like advertising, social media, and ads. As soon as the leads come in, the sales team takes over to convert them.
With ABM, both teams work hand in hand throughout the entire process of:
Once your sales and marketing team are in sync, it’ll be easier for them to close more sales.
If you want to win more B2B sales, you must focus on retaining your existing customers by building a lasting relationship with them.
Saasquatch found that 84% of B2B decision-makers begin their buyer’s journey with a referral. When your existing customers are happy and satisfied with your service, they’re more likely to recommend you to qualified leads.
Aside from this, your customers are also more likely to keep doing business with you if they feel a personal connection. By paying attention to their needs and fostering a positive relationship with them, you can stop them from possibly switching to a competitor.
With in-person meetings still discouraged, however, what channels should you use to establish and nurture your relationship with your B2B customers and prospects?
Take a look at some of the best ones below:
You can use engaging and highly relevant content to continue winning the hearts of your B2B customers and provide value. Provide high-quality content through blog posts, podcasts, articles, videos, infographics, and more.
B2B email lists are often smaller compared to B2C, which is why you should take advantage of this opportunity to curate personalized messaging for your customers and send them emails regularly.
Send them a welcome email, a “happy birthday” email, a new article email, video email, webinar email, case study email, and any engaging resource you think your customers will find useful.
Videos are a great way to provide your customers information in a more engaging way. You can also use video to send out thank you or congratulatory messages.
There’s no better way to keep your customers up-to-date than by being active on social media. Post about the latest industry happenings, blogs, company events, and other relevant topics.
Webinars make it easier for you to interact with your B2B customers and prospects. They allow you to showcase your expertise and establish trust. The Q&A portions help clarify issues, increase satisfaction, and put their minds at ease.
Developing a loyalty program is another way to make your existing customers smile. Check out some strategies below:
Start with a basic membership rewards to encourage them to sign up for your loyalty program and motivate them to purchase more.
The more points they accumulate, the higher their level becomes, allowing them to access better pricing, more discounts, or other incentives.
Offer exclusive discounts your customers can use for the next transaction to motivate them to do business with you again.
Referral programs can generate more leads at the same time retain your existing customers.
Last but definitely not the least, we have great customer support.
According to a study conducted by Accenture, 94% of B2B customers conduct research online before making a business purchase. Your goal is to keep your company at the top of your prospects’ minds so that when they’re ready to buy, they’re going to purchase from you.
But, how can B2B businesses do this?
Through social selling.
Social selling refers to the use of social media to find and engage with new prospects. Research by IDC reported that 91% of B2B customers are active on social media, specifically LinkedIn. 80% of B2B leads come from LinkedIn.
By constantly engaging with your prospects on social media, you can slowly but surely build a relationship with your cold leads and turn them into brand enthusiasts.
We aren’t talking about Facebook or Instagram, though.
The best channel to engage with your prospect is actually LinkedIn. 91% of marketing executives say it’s is the number one place to find content for B2B businesses. When your prospects search online, they go to LinkedIn to find the content or information they want.
By creating quality content on this platform, as well as commenting and sharing resources actively, you’ll definitely keep your prospective customers highly engaged. Over time, when they’re ready to convert, they’ll definitely come to you first!
The B2B sales landscape is quickly evolving. You need to be able to respond to these changes for your business to survive today and thrive tomorrow.
Apply the five tips mentioned above to help you identify more quality leads, provide them what they want, and keep them delighted so you can start closing more B2B sales this year!
At Digital Resource, our digital marketing experts can help you create an effective LinkedIn marketing strategy and create highly targeted and compelling content you can use to capture more leads and close more sales. Contact us for inquires!